Review of retail store return policies

Retail stores have tightened up their return policies in recent years. Many limit your returns to 30 or 90 days, and some stores even require a license to return an item that was bought using cash.

This review will focus on everyday items, and keep in mind that items such as books, movies, video games, and electronics vary by store, and by department.

From my experience and research, I have found that one retailer in particular, offers the best return policy out of all retails stores.

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In the past, WalMart had a gracious return policy, but has tightened up their business practices in recent times.

With receipt - Returns can be made within 90 days, and you will be credited back via your method of payment (cash, credit, debit, or gift card).

Without a receipt - You have to show your license, and you may only return up to 2 items a year. If your purchase is under $10, you can get cash back; if it is over $10, WalMart issues you get a gift card.

• Beware, some items cannot be returned under any circumstances, even if you have the receipt, and the item is not opened. For example, a neighbor purchased a Diabetes Monitoring Kit for $75, and tried to return it with the receipt and unopened. WalMart would not take it back under any circumstance (because it had a needle in it), so my neighbor asked for the manager, explained to him that there was no sign in the pharmacy section stating that the item could not be returned, and was able to return it.

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With receipt - Returns can be made within 90 days, and you will be credited back via your method of payment (cash, credit, debit, or gift card).

• If you bring in the credit card you use, they can find your item in their computer.

Without a receipt - You have to show your license, and you may only return up to 2 items a year.

If item is over $20, cannot return it. If item is under $20, they will give you a gift card.

Target's policy is better than WalMart for the following reason:

• Target's Customer Service can find your credit or debit card in their system, and then pull up your receipt.

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With a receipt - 90 days for purchases. Electronic items can only be exchanged for the same item (within 45 days).

Without a receipt -Toys R Us will attempt to lookup you receipt by credit card, but there is no guarantee that they will find it. If they cannot find your receipt and you do not have one, they cannot take back your merchandise for any reason.

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Pier 1 has a very strict policy for returning their overpriced items.

With a receipt - 30 days.

Without a receipt - When I called the store to ask, I was told that they cannot return any item without a receipt, unless the manager approves it.

However, on their website it states: "Without original receipt - We will provide an exchange or store credit for the current selling price. This excludes merchandise that is specifically labeled 'return with original receipt only'. A valid ID is required.

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Bed Bath & Beyond's prices tend to be quite high. On the positive side, you can return anything you bought at Bed Bath & Beyond, with or without the receipt, and in any condition, no questions asked.

Coupons As an aside, Bed Bath & Beyond has their own coupons and will take competitor's coupons. I make sure that I always use a 20% off or $5 coupon whenever I shop there.

Tip: Their coupons never expire. Bed Bath & Beyond adds a date expiration on each coupon to get you in the store, but the truth is - they never actually expire.

• The $5 coupon is good for any purchase of $15 or more The 20% coupon is good for 20% off of any item.
• Therefore, if an item costs $15, use the $5 coupon ($15 - $5 = $10) If an item costs $25 or more, use the 20% off coupon [$30 - 20% ($6) = $4]. $25 is your breakeven point for saving $5 off.

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Based on my review of the following retail stores, Bed Bath & Beyond overwhelmingly has the best and most lenient return policy. You can bring back a rusty toaster, or a George Foreman Grill you have owned for 5 years, and they will honor the return.

Regardless of the retail stores return policies, I recommend that you keep an envelope labeled with each retailer that you shop it, and simply place the receipts inside. In the event that you have an issue with something you bought, you can quickly put your hands on the receipt.

If you have exceeded the time for a return for a certain retailer, you might be out of luck. However, I suggest you speak up, ask for a manager, and try to return the item anyway. It cannot hurt to ask!

Additionally, know the return policy of the retailers - and even the the departments within the retailer - you most commonly shop at - that way you will not be surprised when they will not accept your item back.

As burdensome as that might sound, it is important to know. In the event you bought expensive computer software at WalMart, open it, and want to return it within the time allowed * buyer beware * you cannot return it because it must be returned unopened.